Secretive big data and analytics startup Palantir, co-founded by Peter Thiel, said late Monday it has confidentially filed paperwork with the U.S. Securities and Exchange Commission to go public.
Its statement said little more. “The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions.”
Palantir did not say when it plans to go public nor did it provide other information such as how many shares it would potentially sell or the share price range for the IPO . Confidential IPO filings allow companies to bypass the traditional IPO filing mechanisms that give insights into their inner workings such as financial figures and potential risks. Instead, Palantir can explore the early stages of setting itself up for a public listing without the public scrutiny that comes with the process. The strategy has been used by companies such as Spotify, Slack